[lbo-talk] Saudis cutting output to keep oil price north of $50

Doug Henwood dhenwood at panix.com
Tue Jan 30 09:05:21 PST 2007


On Jan 30, 2007, at 10:30 AM, Yoshie Furuhashi wrote:


> $50 is good enough for Saudi Arabia, but not good enough for
> Venezuela, let alone Iran, to say nothing of environmentalism.

On the latter, we need carbon taxes; who wants ExxonMobil to get the windfall?

$50 is still quite a high price by recent historical standards. Unlike Venezuela, Iran isn't using its oil windfall for much of anything decent.

Doug



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